Global Automotive Sunroofs Market is Expected to Reach USD 11,426.8 Million In Terms of Revenue by 2024:- Transparency Market Research.

According to a new market report published by Transparency Market Research “Automotive Sunroofs Market (By Material- Glass and Fiber Sunroofs, By Glass Sunroof Type- In-Built, Tilt and Slide, Panoramic, Top-Mount, Pop-Up, and Solar Sunroofs, By Fiber Sunroof Type- Foldable and Removable Sunroofs) –Global Industry Analysis, Trend, Size, Share and Forecast, 2016 – 2024.”,the market was valued at USD 4,340.7 Million in 2015 and is expected to reach USD 11.426.8 Million in terms of revenue by 2024, growing at a CAGR of 11.5% from 2016 to 2024.

Nash Motor Company was the first automobile company which offered sunroofs as a standard option. An automotive sunroof is an operable or fixed roof opening with a retractable glass or fiber panel that permits air and light to penetrate the passenger compartment. These are either manually operated or motor driven.Sunroofs are no longer exclusively meant to be present in luxury cars. The automotive sunroof market is becoming increasingly competitive with vehicle makers using sunroofs to satisfy consumers growing demand for comfort and safety features. The development of alternative fuel vehicles has led the automobile manufacturers and innovators to develop sunroofs with solar cells which also provide power to the vehicles. Based on material type, the market can be segmented into glass and fiber automotive sunroofs market. The glass sunroof market can be further segmented into built-in, tilt and slide, panoramic, top-mount pop-up, and solar sunroofs market. The fiber sunroof market can also be further segmented into foldable and removable sunroofs market. On the other hand, geographically, the market can be further bifurcated into North America, Europe, Asia Pacific, Middle East and Africa (MEA) and Latin America. The automotive sunroofs market across the globe is predicted to show increasing growth during the forecast period from 2016 to 2024.

This report provides a forecast of the global automotive sunroofs market during the period from 2016 to 2024 and also highlights the market trends. The study also put emphasis on the current market situation along with various driving and restraining factors that are predicted to affect the demand and supply of automotive sunroofs across various regions.

The automotive sunroofs market across the globe is majorly driven by the Europe region in terms of revenue. Europe also has a significant potential demand for premium vehicles and along with increasing consumer’s demand for comfort systems, the adoption of sunroofs in all passenger vehicles has increased over the forecast period in Europe. Glass Sunroofs are adopted in approximately 60% of the vehicles using sunroof systems in Europe. Asia Pacific region occupies the second largest market share after Europe. The demand for automotive sunroofs as an after-sales market, has witnessed a spike in popularity especially among the younger generation in the Asia Pacific region.The growing automobile sector in the Asia Pacific region is expected to drive the market for sunroofs with India, China and Japan emerging as manufacturing hubs and major markets for after-sales vehicle customization in this region. Governments of emerging economies of Asia Pacific, MEA and Latin America are providing incentives and environment friendly industry that has taken sustainability issues into consideration. This has in turn helped in drawinghuge investments from leading global companies of automotive sunroofs providers for setting up new facility manufacturing units in these regions.

North America captures the third largest market share followed by Middle East and Africa (MEA) and Latin America.The North American region is led by the U.S. Innovation in component materials along with rising number of factory installed sunroofs is expected to drive the growth of automotive sunroofs market in the U.S.

In Middle East and Africa (MEA), UAE is the leading the market followed by South Africa. MEA is rising as a potential market with investment opportunities for by companies.In Latin America, Brazil is leading the economy in driving the market for automotive sunroofs market. Huge investments in Brazil has led to economic prosperity which will continue to be more strongly applicable over the years.